Hello guys,
I have been studying Forex market in the last days and i’m very excited with. The only problem is the time, I have few time to study about and consequently to start operating. I guess using money managers could be useful for me, what are your experiences or opinions about it?
Kind regards!
If you cannot trade for yourself, then certainly looking into some kind of money management is worth doing. Heck, it’s probably worth doing even if you can do your own trading as a way to diversify.
Where do I find good money managers? Do you have any suggestion?
Thanks!
A place to consider is the Currensee Trade Leaders program. Basically, it’s an automatic trade matching program.
Thank you!
HI, here you are good money and risk management explanation
[B]The simple rules for high profits.[/B]
Your brain is your trading engine. Your engine can make you either a loser or a winner.
Drop the emotions; your power is your intelligence.
Stay 200% FOCUSED.
Do not be greedy. Trade as long as you have planned.
The luck won’t help you.
Invest in yourself. Spend much time reading and studying the techniques of the successful traders, then practice with a demo account.
If you fail, call it a day and do something else then will distract you. You can do yoga, sports, meet a friend. You have to stop thinking about trading.
I reckon fees are an issue.
If you don’t have time to trade another option is Zulutrade. I’ve not compared the cost of zulutrade with a money manager but my guess is it would be much cheaper
There are downsides - for example Zulu has pitfalls for the newbie, like the fact that the top 10-20 is littered with beneficiaries of ‘survivorship bias’. Also the default is fixed lot, where you might prefer percent of balance. And you will have to work on testing SPs via demo which would require some time.
Anyway, hope that helps. There are lots of threads here about Zulu trade. Consensus appears to favour the following SP s
Additionally we like
But they all have peculiarities - eg Richter’s recent eurchf trade would have diced you if you didn’t give him 30 positions to trade with. We did, and so we are fine. But the first 15 positions are underwater… While the others are more than cruising.
be very very careful with currensee. I know rhodytrader is a strong advocate of the company, but you need to do some due dilligence. The guy behind the company used to post quite regularly on US trading forum (FF), and he’s very far from transparent in his answers, nor particularly profesional.
The selection criteria for the trade leaders program also apears to be rather lax, and consequentially, one or two trade leaders have failed with spectacular results (IIRC correctly, their star trader lost 75-80% of his account in a single day) The argument that they’ll use to excuse this is that you should diversify risk across multiple traders, and that therefore an 80% loss is trivial if you only have 5% of capital allocated to that trader. There is merit in that argument, but the metrics for judging performance and risk need to questioned when such events occur.
Personally, I wouldnt touch them (or any other similar service) with a bargepole. If you really want to understand why these types of service are so dangerous, and irresponsible, there’s a very honest article by the guy who owns collective 2 (who provide a similar service)
I’m saying no more as I’m probably wasting my time 
The previous poster hit the nail on the head, these companies increasingly appear to be trading “survivorship bias”, and its grossly irresponsible.
adding up to these ones as well and mybestsystems! this signal is also deserving some credit, even though at the past days is not doing so well.
I found this article helpful to understand easily the money management of trading. You may read it.
Visit the link [B]Basic forex money management plan[/B].
Advertising a poorly written newbie blog in every thread on every forum … thanks a lot for that.